Zonal Isolation Market Revenue to Reach US$27.88 bn by 2024, Rise in Offshore Drilling Activities Fuels Growth
Transparency Market Research has released a new market report titled, “Zonal Isolation Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 - 2024.” According to this report, the global zonal isolation market was valued at US$14.80 bn in 2014 and is projected to reach US$27.88 bn by 2024 at a CAGR of 6.6% from 2016 to 2024.
Browse the full Zonal Isolation Market, by Technology (Mechanical and Chemical Zonal Isolation) and Application (Onshore and Offshore Zonal Isolation) - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2016 - 2024 report at https://www.transparencymarketresearch.com/zonal-isolation-market.html
Traditionally, cementing technique has been used by operators to provide zonal isolation throughout the life of a well. However, in the past few years, several mechanical and chemical techniques have been developed to prevent cross flow of water, gas, or oil between different formations. Mechanical zonal isolation consists of the use of several mechanical equipment such as sliding sleeves, packers, perforated/slotted liners, and plugs. Chemical zonal isolation, on the other hand, comprises the use of polymer gels, monomer systems, bio polymers, and elastomers.
Multiple technologies along with primary and remedial cementing are deployed by well operators for isolating a particular zone during well completion and intervention. Deployment of such techniques depends on several well parameters such as type of producing zone (oil or gas), depth of well, wellbore geometry, and temperature of the wellbore. Zonal isolation is considered very critical for developing unconventional resources. It is very essential to predict flow rates to successfully design and implement multistage hydraulic fracturing in low permeable shale gas reserves. Cost of isolating a particular zone is generally 2%-5% of the total well completion cost. Shift of exploration activities from onshore to offshore areas coupled with increasing focus toward the development of unconventional reserves has spurred the market for the zonal isolation across the globe.
The zonal isolation market has been segmented on the basis of technology and application. Based on technology, the market has been segmented into mechanical and chemical zonal isolation. However, on the basis of application, the market has been segmented into offshore and onshore zonal isolation. Chemical zonal isolation holds the highest market share in terms of technology. However, in terms of application, offshore zonal isolation holds the highest market share. Key players in the zonal isolation market are Schlumberger Limited, Superior Energy Services, Inc., Weatherford International, Baker Hughes, Inc., Halliburton Company, Nabors Industries Ltd., Trican Well Service Ltd., Expro International Group Holdings Ltd., Aker Solutions ASA, and Tendeka.
Increase in drilling activities, especially in the offshore areas coupled with growing demand for unconventional energy sources have driven the global market for zonal isolation in the past few decades. Despite fluctuations in the global crude oil prices, it is anticipated that the market for global zonal isolation would reach US$ 27,888.8 Mn by 2024.
Zonal Isolation Market: By Technology
- Mechanical Zonal Isolation
- Sliding Sleeves
- Perforated/Slotted Liners
- Chemical Zonal Isolation
- Polymer Gels
- Monomer Systems
- Bio Polymers
Zonal Isolation Market: By Application
- Onshore Zonal Isolation
- Offshore Zonal Isolation
Zonal Isolation Market: By Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East
- Saudi Arabia
- Rest of Middle East
- Rest of the World
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